So, you want be a success businessman or businesswoman…is there a secret?

Well, maybe there is more than one, but we’ll let entrepreneur Ira Zlotowitz share with you what he’s seen from decades in the commercial real estate business.

Ira can be reached at iraz@gparency.com or hit him up on his cell which he shared in the interview – wild!

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The ONE Thing All Successful Businessmen Do Well

Success in business is a coveted goal for many aspiring entrepreneurs and businessmen. It requires a combination of skill, talent, hard work, and a bit of luck. While there are a multitude of factors that contribute to success, there is one common attribute that all successful businessmen share: the ability to make effective decisions.

Decision-making is an integral part of every business endeavor. From small decisions regarding day-to-day operations to major strategic choices that shape the future of a company, successful businessmen understand the importance of making the right calls at the right time.

So, what sets apart successful businessmen in terms of decision-making? Let’s delve into the key factors.

1. Clarity of Vision: Successful businessmen have a clear vision of what they want to achieve. They have a deep understanding of their industry, target market, and the goals they want to accomplish. This clarity of vision guides them in making decisions that align with their long-term objectives.

2. Analytical Thinking: Successful businessmen possess strong analytical skills. They gather and analyze relevant data, assess potential risks, and weigh the pros and cons of each decision. By having a logical and analytical approach, they minimize the chances of making impulsive or ill-informed choices.

3. Focus on Prioritization: Time is a valuable asset in business, and successful businessmen recognize this. They focus on prioritizing tasks and decisions based on their importance and potential impact. By doing so, they ensure that the most critical decisions are given proper attention, rather than being bogged down by minor issues.

4. Risk Management: Successful businessmen are skilled risk managers. They understand that taking calculated risks is essential for growth and innovation. However, they also know how to mitigate risks by analyzing potential drawbacks, developing contingency plans, and considering alternative solutions. This enables them to move forward confidently while minimizing the impact of potential failures.

5. Adaptability: Flexibility and adaptability are crucial in today’s dynamic business environment. Successful businessmen are open to change and are willing to adjust their decisions if necessary. They understand that rigidity can impede progress and hinder success. By being adaptive, they are better equipped to navigate challenges and capitalize on emerging opportunities.

6. Seeking Expertise: No one can be an expert in every subject matter, and successful businessmen understand this reality. They are not afraid to seek advice and surround themselves with knowledgeable professionals or mentors. By relying on expertise in various domains, they make informed decisions that are backed by reliable insights.

7. Learning from Mistakes: Failure is often considered a stepping stone to success. Successful businessmen view mistakes as valuable learning experiences. They recognize the importance of reflecting on their decisions, understanding what went wrong, and making adjustments for future decision-making. By embracing failure, they grow and improve their decision-making skills over time.

In conclusion, decision-making is the ONE thing that all successful businessmen do well. Through clarity of vision, analytical thinking, prioritization, risk management, adaptability, seeking expertise, and learning from mistakes, they consistently make effective decisions that drive their businesses forward. While each individual may have their unique approach to decision-making, these common attributes contribute significantly to their success.